Ownership often means big repair bills, especially in a rural property (well, septic, etc.) but the payback comes from the built up equity. Renting fills someone's else's pocket with free cash; that's how the rich get richer.

I like renting because I can relocate easier for a better job or if I don't like the neighborhood that I'm renting in. The upside of owning is you have more freedom to personalize your space and your building equity.

Depends on if you're any good at maintenance, because if you own a home, you have to either do all that shit yourself or pay a lot to have a professional do it. However, I'll agree that renting is frustrating, depressing, and occasionally dangerous. Still, I'd rather rent because I am too clumsy to properly carry out maintenance.

My house payment is $742 while rent for a similar house would be $1350 without a pool.
Granted, most people would have a higher payment but it wouldn't be as high as rent. I live in an area where rentals are in short supply so despite the costs of repairs, I am still in better shape as a homeowner.

Buying makes more sense to me, if you're going to be in one place for a while.

I've done both. I prefer owning bacause I can change/remodel the house however I want and I can make as much noise as I want.
I don't have to put up with loud neighbors.

I opted to build and purchase 2 homes in my time, had I rented, I would be worthless today, but on my demise, I can leave half a million New Zealand dollars to my three children. Failing that, If I sell, I have plenty to support myself until I attend my final barbecue.

Never owned my own home and sick of having to move on every time my landlord sells up. I want to put down some roots!

Depends on how mobile you are. If you like to be able to up and leave whenever renting is your best bet. If you want to put roots down and stay put, owning is by far the best option.

If you're single, renting may be better (if you're disciplined about saving the difference between rent and a mortgage). If you have a family, you're probably better off owning. If you plan on moving within 5 years or so, renting is probably better. Geography is also a factor - high property taxes can make owning less attractive. A shortage of rentals can make owning more attractive.

As long as I've got a roof over my head, food in my belly and beer, I don't really care.

Owned my own home fo rover 20 years and love it dearly.

Owning, if nothing else because you build equity. Plus there's more freedom to customize something you own vs something you rent.

I think I just dislike the fact that I've paid almost enough in apartment costs to own a home by this point, but never had enough money at the same time to really get that house.

I rent and own. I own the Mobile Home but I rent the property is on. I like owning. As I can pretty much do what I want to the house. But I’m responsible for anything that breaks down, which can be tough.

I took one of those Financial Peace University seminars, and the host, Dave Ramsey, suggests renting when you're younger so you can save money and then take out a smaller mortgage later when you buy. The problem I see with this, however, is that it's often at least as expensive to rent an apartment as it is to pay on a house mortgage (at least in some areas around here that's true), and in those cases it seems buying a smaller house is better because you'd pay a little less and still have equity in the property, and then later that equity can be transferred to a larger home as needed. I suppose if you can rent a place dirt cheap, though, his advice would prove out.

I own my house....and I do not miss paying rent, sharing a wall with neighbors I don't like...I lived in apartments for 3/4ths of my life....even with the catastrophies that have happened, fixing it myself is satisfying.

I miss the days when I rented and had nothing to do in the evenings and weekends. I am now in my 3rd house. I will never buy again. I tell new home buyers, "Owning a home means never having to worry about what you are going to do with all your free time....because you won't have any."

And long gone are the days when " A Man's Home is his Castle". Nowadays, there are rules covenants and ordinances that pretty much control what you can do on your property.

Owning is better if you can settle down. I’ve owned and rented out a home for a decade. I’ll buy again eventually. Just not likely to be anytime soon

I have never rented, just have an aversion, would not feel at peace in someone else's house. Silly I know, yet I stay with people who rent. Myself I have lived in my car when I didn't have a home of my own. Now here is the crazy part. Owning is no more permanent. It is strange feeling passing or visiting a house you owned for years. You cannot go in, most times the new occupants would have no idea whi you are. So ownership is also transient. The concept always makes me think and consider native inhabitants of countries.

I chose ownership, but it isn't always a picnic. I had to put in a new AC in July 2016 and probably didn't make the best decision. And now my roof is leaking. My Son In Law is in construction and when the new roof was put on his dad was my contractor. Dad later decamped and left SIL with a mess. But SIL took a look at the roof today and can't figure out why it is leaking. On the other hand the mortgage is less than renting similar space or an apartment. I have an attached garage. I have a garden. I don't have people coming in while I am gone and leaving my door unlocked. I don't have sumo wrestling or smokers upstairs. My SIL is good about doing repairs for me. I've painted it the way I want it done. If I put holes in the walls it is my business. In the long run, ownership is better for me. I have space to do what I want to do. I'm thinking as I get closer to retirement I might downsize, not sure, but I have a few years.

I voted for owning, which I do but to clarify, owning IF you are able to pay it off before you reach retirement age. I actually paid my house off about 20 years ago but I bought for well below what homes go for now and even what they went for back then in towns with more than 3k population.
Having no mortgage payment meant I could spend money on repairs when needed and after retirement not having a mortgage payment means more cash for other things, including having the tub switched out for a shower, a job I decided I was NOT interested in doing myself.

I have a unique situation. I live on top of a hill next to dodger stadium in a rent controlled building. It is a nice building built in 1969 ( same year as me) that is pretty nice. I moved in 25 years ago next month. I used it for an office and crash pad for touring bands for around 5 years when the music business was rolling for me in the early 00's but moved back in around 10 years ago when things slowed down. The neighborhood has changed- way for the better financially althought its gotten a lot more croweded and full of entitled trust funders. The first decade I lived here the rent didn't go up and now it can legally only be raised 3% per year. I pay $1097 for a floorplan that now rents for $2400. When The plumbing breaks- I call the landlord and pay nothing. When the garage door breaks or the laundry machines- I call the landlord. When the ANYTHING breaks it never costs me a penny to fix. Im not a handyman kinda guy so the not having to constantly pay people to fix shit is almost as appealing as the deal I get on the rent. Interesting poll and I liked everyones comments below

I feel that paying rent is making a mortgage payment but not getting ANY benefit from it.

Making a mortgage payment is putting money into MY pocket. Especially if I am paying off the principle sooner than required.

Just sold my house after 36 years but had to give half to my ex wife. Property taxes were 200 a month and maintenance never ended so now I pay rent and am quite happy.

There are many variables to consider that impact the decision making process such as ones financial circumstances, age, income, savings, and the economy. Looking back on the real estate bubble of 2008 when millions lost their homes and even more condominium and home owners lost their equity and owe more on their mortgages than their homes are worth. They are still upside-down and are renting out their homes to pay the mortgage and slowly regain some of their lost equity. Real estate is no longer a safe investment and too many people are trying to act as property managers with disasterous results.

Many luxury rental properties are being built in urban areas to accomodate the demand of young professionals who want to live near jobs and nightlife destinations and older people who no longer want the headaches of ownership. Simultaniously, affordable housing development is stagnant, low income vouchers are all but impossible to obtain and market rents rise faster than incomes.

It's a difficult decision that must be looked at in the context of every persons personal circumstances, needs and capabilities. Choose carefully and conservatively.